BMW 'cautiously optimistic' after record year

German top-of-the-range carmaker BMW said Tuesday it is "cautiously optimistic" for business in 2013 when it expects earnings to match the record levels reached last year.

"After achieving a record-breaking year in 2012, the BMW group's outlook for the current 12-month reporting period is cautiously optimistic, based on ambitious targets set amid a persisting difficult and volatile economic environment," BMW said in a statement.

"We are aiming to achieve a further rise in unit sales in the current year and hence a new sales volume record," said chief executive Norbert Reithofer.

However, earnings would likely remain stable, he said.

"Due to high levels of expenditure for new technologies and models as well as investment in the production network, we expect to report group profit before tax on a similar scale to the year 2012," Reithofer said.

As reported last week, net profit rose by 4.4 percent to 5.122 billion euros ($6.6 billion) in 2012 and pre-tax profit was up 5.9 percent at 7.819 billion euros.